Acadian Asset Management LLC Acquires 549,508 Shares of Zevia PBC $ZVIA

Key Points

• Acadian Asset Management LLC significantly increased its stake in Zevia PBC by 950.8%, acquiring 549,508 additional shares, bringing its total ownership to 607,303 shares valued at approximately $1.31 million.
• Analysts have raised their price targets for Zevia PBC, with Telsey Advisory Group and BMO Capital Markets setting targets at $6.00, while Morgan Stanley's target is $2.70, indicating a favorable outlook for the stock.
• Zevia PBC's stock recently traded at $2.38, down 0.8%, with the company reporting a revenue of $44.52 million for the last quarter, surpassing analyst expectations of $41.63 million.

Acadian Asset Management LLC boosted its holdings in shares of Zevia PBC (NYSE:ZVIA - Free Report) by 950.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,303 shares of the company's stock after acquiring an additional 549,508 shares during the quarter. Acadian Asset Management LLC owned 0.83% of Zevia PBC worth $1,309,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Outlook Wealth Advisors LLC acquired a new position in shares of Zevia PBC during the 1st quarter valued at $29,000. Wolverine Trading LLC acquired a new position in shares of Zevia PBC during the 4th quarter valued at $39,000. First Manhattan CO. LLC. acquired a new position in shares of Zevia PBC during the 1st quarter valued at $48,000. Bank of America Corp DE lifted its position in shares of Zevia PBC by 2,845.4% during the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company's stock valued at $66,000 after acquiring an additional 15,280 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Zevia PBC during the 1st quarter valued at $67,000. 53.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Telsey Advisory Group increased their price target on shares of Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. Finally, Morgan Stanley upped their price objective on shares of Zevia PBC from $2.50 to $2.70 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Zevia PBC currently has an average rating of "Moderate Buy" and a consensus target price of $4.61.

Zevia PBC Stock Performance

ZVIA traded up $0.01 on Friday, reaching $2.39. The company had a trading volume of 1,327,094 shares, compared to its average volume of 577,975. The business has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $2.68. The company has a market cap of $179.13 million, a price-to-earnings ratio of -10.86 and a beta of 0.89. Zevia PBC has a 52-week low of $0.96 and a 52-week high of $4.99.

Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. Zevia PBC had a negative net margin of 8.97% and a negative return on equity of 27.86%. The business had revenue of $44.52 million for the quarter, compared to analysts' expectations of $41.63 million. As a group, equities research analysts predict that Zevia PBC will post -0.32 EPS for the current fiscal year.

Zevia PBC Profile

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.